Write a note on holding company and subsidiary company

On the basis of control companies can be classified into holding, subsidiary and associate companies. Holding company and Subsidiary company Holding company: As per Section 2 46holding company, in relation to one or more other companies, means a company of which such companies are subsidiary companies.

Write a note on holding company and subsidiary company

The agenda must not be vague but should be clear and definite. Croydon Tramways, 1 Ch The agenda of a meeting whether it is a board meeting or any other meeting lists out the things to be done at a meeting and businesses to be discussed and transacted at a meeting.

The Companies Act, does not have any provision for the preparation or for the requirement of sending agenda for the board of directors meeting or general meetings but although not statutorily required laying down agenda for a meeting cannot be totally abondoned.

write a note on holding company and subsidiary company

The order of businesses to be set out in the agenda is usually fixed in consultation with the chairman of the meeting and routine items such as confirmation of minutes of previous meeting and consideration of leave of absence of directors are mentioned first.

The word "meeting" also connotes that there should be at least two persons to constitute a meeting. This general rule is, however, subject to a statutory exception where even one person may validly constitute a meeting, e.

Similarly, the Company Law Board may, under section and Section of the Companies Act,order that a single person shall constitute a valid meeting.

Holding Company

The Court may also order a meeting to be called with a single member attending the meeting. Sticky Fingers Restaurant Ltd.

Except in such exceptional cases, meeting means and implies, meeting of more than one person. Under the Companies Act, there can be board meeting, general meeting and class meeting.

In definitions given under Secretarial Standard-1, board meeting means a meeting duly convened and constituted of the Board or any Committee thereof' and under in definition giving Secretarial Standard-2, meeting or general meeting or extraordinary general meeting means a meeting of members duly convened by the Board or on the requisition of members.

From this it follows that there cannot be any meeting without a proper notice indicating tile subject matter to be discussed at the meeting.

Bank of Australia, 45 Ch D It is a general rule of common law that a corporate body is not properly constituted unless the notice of Meeting is Given to every member.

Mahabir Prasad Jalan v. Bajrang Prasad, [ Com Cases 81 Cal. Place, time and proper authority of notice Ss. Potter, 1 Ch The logical necessity of a notice of a meeting, Smyth v. Darley, 2 HLCfurther implies that the persons attending the meeting must know the place as well as the time where and when the meeting is to be held.

BREAKING DOWN 'Subsidiary'

There is also implicit in the requirement of notice that the notice is issued by proper authority for otherwise every member of a body of persons may issue notice thereby creating confusion.

Of course, unless otherwise prohibited by any statutory provision, the members can agree to waive the requirement of notice.

write a note on holding company and subsidiary company

Kerr, 83 LT Adjournment of meeting [Ss. Paringh Mines, 2 Ch Of course, once convened, the meeting can always adjourn, itself to finish its unfinished business or to take up the entire business of the meeting on some other date.

A meeting can also be adjourned for want of quorum. The meeting itself will indicate the date, time and place when and where the adjourned meeting is to be convened.

Subsidiary - Wikipedia

If the bye-laws or regulations of the body permit, a meeting can be adjourned sine die but then, a separate notice is required to be given for holding the adjourned meeting. However, in the event of disorder, even if the relevant rules do. Such an adjournment must be for no longer than the Chairman considers necessary and the Chairman must, so -far as possible communicate his decision to those present.

Quorum at the Board Meeting S. It is not enough that a quorum was present at the commencement of the business.Milwaukee Insurance Company. Milwaukee Insurance Company S Executive Drive # Brookfield, WI () ‎ Milwaukee Insurance Company is a Wisconsin-based casualty and stock property insurance company.

A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the parent company, parent, or holding company. [4] [5] The subsidiary can be a company, corporation, or limited liability company.

Understanding a Holding Company A Basic Introduction to Holding Companies and How They Work. Please note that this article is designed for beginners.

Hospitality, LLC that is % owned by Blue Sky Holding Company. We contribute $2,, of our cash and have this new subsidiary borrow $2,, from a bank. 2 CARE Ratings Limited Press Release book position depends heavily on the orders from these large customers.

However, the company has a long-standing relationship with these clients and forms an important part of their global delivery chain.

BP plc (formerly The British Petroleum Company plc and BP Amoco plc) is a British multinational oil and gas company headquartered in London, attheheels.com is one of the world's seven oil and gas "supermajors", whose performance in made it the world's sixth-largest oil and gas company, the sixth-largest energy company by market capitalization and the company with the world's 12th-largest.

A subsidiary is an independent company that is more than 50% owned by another company, usually referred to as the parent company or holding company.

Chairman's Letter -